‘India to see $300-bn investment in energy’

New Delhi, December 11 

India will see an investment of around $300 billion over the next decade in setting up of refineries, oil and gas pipelines and expansion of city gas distribution network as it builds infrastructure to cope with the massive demand surge, Oil Minister Dharmendra Pradhan said today.

Speaking at KPMG’s ENRich 2018 energy conference here, he said India is the third largest energy consumer in the world after the US and China and its energy demand will grow three-fold by 2040.

According to BP Energy Outlook, India will be the key driver of global energy demand in the next 25 years.

To meet the massive demand, it is building world’s largest oil refinery in Maharashtra at a cost of $40 billion, he said adding about $3 billion is being spent on laying gas pipelines to connect the eastern part of the country to the gas grid.

Also, LNG receipt terminals at Ennore in Tamil Nadu and Dhamra in Odisha are being set up at a cost of Rs 10,000 crore,  he said. City gas distribution network to supply CNG to automobiles and piped natural gas to households is being expanded to cover 70% of the population in the next 2-3 years. — PTI

83% dependent on imports

• India is the third largest energy consumer in the world after the US and China and its energy demand will grow three-fold by 2040
• According to BP Energy Outlook, India will be the key driver of global energy demand in the next 25 years
• To meet the massive demand, India is building world’s largest oil refinery in Maharashtra at a cost of $40 billion